An assessment order was passed making addition on account of cash deposited in its bank account. Assessee has given proper reply and also attached the relevant documents. The Assessing Officer passed the order without considering the reply. Reassessment notice and order disposing the objection is quashed and set aside. Matter was remanded for reconsideration. (AY. 2018-19)
Coonoor Sri Thanthi Mariamman Kerala Seva Sangam v. AUI (2024) 299 Taxman 470 (Mad.)(HC)
S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Cash credits-Cash deposited in bank account-Reply was not considered-Reassessment notice and order disposing the objection is set aside.[S. 148, 148A(b), 148A(d), Art. 226]